TROW · 10-Q · 2026Q3 · Full report

Distribution Channels

PRICE T ROWE GROUP INC · 2026-10-29 · Importance 41 · Surprise 22 · From source text

Third-party intermediaries distributed higher average AUM, driving distribution and servicing costs up 15.9% year over year in the third quarter and 12.2% for the first nine months of 2026. The costs cover intermediaries sourcing assets in certain share classes of U.S. mutual funds and ETFs, as well as international products including Japanese ITMs and SICAVs. The filing says these costs are offset by advisory revenue from the products or, for Advisor and R share classes of U.S. mutual funds, by 12b-1 fees. The company also provides participant accounting and plan administration for retirement plans that primarily invest in its U.S. mutual funds, collective investment trusts, and products managed outside its complex; those assets under administration totaled $346 billion, including $186 billion it managed.

Key facts

• Distribution and servicing costs were $111.0 million in Q3 2026, up $15.2 million (15.9%) from Q3 2025, primarily due to higher average AUM distributed through third-party intermediaries. source
• Distribution and servicing costs were $316.4 million for the nine months ended September 30, 2026, up 12.2% from $281.9 million in 2025. source

Impact estimates